Retirement Plan Limits

You can save for retirement up to the maximum dollar limit. Maximum contributions vary by the type of retirement plan:
Traditional or Roth IRA: $5,000 ($6,000 if age 50 or older)*
SEP IRA: $49,000**
SIMPLE IRA: $11,500 ($14,000 if age 50 or older)
401(k) plan: $16,500 ($22,000 if age 50 or older)
403(b) plan: $16,500 ($22,000 if age 50 or older)
457 plan: $16,500 ($22,000 if age 50 or older)
Defined Contribution Pension: $49,000
Defined Benefit Pension: $195,000

*If you fund both a traditional and Roth IRA, your total contribution to cannot exceed $4,000 (or $5,000) combined.
**SEP IRA contributions are calculated on an IRS worksheet. Your maximum contribution may be less than $45,000.